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AML/CTF Module 1: Regulation and Risk

This module provides a detailed guide to the regulatory framework on which AML/CTF practice is based. It examines the core elements of the risk-based approach. Using typologies and case studies, it explores the ML vulnerability of financial products and services.

To apply, please go to the following online application.

PROGRAM: AML/CTF Graduate Program
TITLE: Module 1: Regulation and Risk
FEE: See program fees

how do you undertake the module?

The Module is completed via a combination of workshop attendance, self-study, online support and assessment.

The estimated workload for this module includes:

  • attend the mandatory 1-day workshop
  • complete the self-study manual
  • complete the assessment (see below)

You should expect to commit between 15 to 20 hours per week of study time, depending on your prior knowledge and experience. The module will take approximately 14 weeks to complete. You will be required to:

  • prepare two skills assessments, demonstrating mastery of the requisite competencies
  • participate in the mandatory online discussion forums
  • participate in assessable workshop activities
  • research and write one academic assignment up to 3,500 words in length (required for the ICA Int. Dip. (AML) only).

What will you learn?

The module will equip you to:

  • apply advanced knowledge and skills in financial crime compliance and management roles
  • exercise judgment to plan and implement a range of AML/CTF functions
  • critically analyse the role of financial institutions in money laundering, terrorism financing and proliferation financing
  • evaluate the key elements of the Australian AML/CTF framework
  • assess the extent to which the Australian regime reflects international AML/CTF standards
  • lead organisational compliance with domestic and international AML/CTF laws
  • critically evaluate the principles underlying the risk-based approach
  • manage the assessment of an organisation's vulnerability to money laundering and terrorism financing
  • determine enhancements to AML/CTF systems to manage vulnerabilities of products, services and channels
  • assess the impact of emerging trends in the financial services industry and apply to organisational AML/CTF systems and processes.                   

What will you achieve?

Upon successful completion of this module, you will be awarded a Statement of Attainment, as partial completion of the FNS80115 Graduate Diploma of Anti-Money Laundering and Counter Terrorism Financing. To achieve the Graduate Diploma and the ICA International Diploma in Anti Money Laundering, you must complete all three modules.

about the trainers

Michelle Watson, Consultant

Michelle has extensive experience in the development and delivery of training programs using her significant knowledge of AML/CTF.

Most recently she has worked as an AML/CTF designer, developer and facilitator, contributing to the development of a range of AML/CTF training packages. Michelle facilitates AML/CTF training involving participants from more than 130 countries in regions including Asia/Pacific, Middle East, Europe, Eurasia, Scandinavia, East and West Africa, the Caribbean and Australia.

Michelle has been an active member of the Egmont Training Working Group for over four years, both as a participant and in supporting the Chair of the Egmont Committee and the Chair of the Egmont Training Working Group. Developing the Egmont International Compliance Training Package, and through extensive consultation with Egmont member FIUs, she gained considerable expertise in the development and maintenance of a robust compliance program.

Neil Jeans, Consultant

Neil has a unique background in financial crime risk management, spanning 20 years. This includes working within Law Enforcement investigating financial crime, and also as a Financial Services Regulator, developing AML regulation and supervision techniques.

He has also worked at senior levels within three major European financial services companies and one of the major Australian banks. Neil has also been a director at a ‘Big 4’ consultancy firm, where he advised clients within financial services, and from the resources and charities/NGO sectors, in relation to AML/CTF, Sanctions and Anti-Bribery matters in Australia and internationally.

Neil was a founding member of the SWIFT Sanction Advisory Group, and regularly attends the Private Sector Expert forum of the Financial Action Task Force (FATF). He was founding chair of ACAMS Australasian Chapter, and a member of the UK Joint Money Laundering Steering Group (JMLSG) Board.



Collaborative atmosphere, good facilitation of the group's thoughts, genuine aim towards achievement of confidence and learning.

Having attendance by AUSTRAC, AFP etc. Panel discussion was extremely beneficial.

Overall a very positive day and worthwhile.

Very interesting and relevant!